BlackRock and VanEck, two of the thirteen hopefuls in the race to introduce Bitcoin ETFs in the U.S., have promptly filed updated documents this Tuesday.
Their rapid response comes after the U.S. Securities and Exchange Commission (SEC) issued comments to them and other prospective issuers. These developments occurred within just 24 hours of the firms detailing fees for their proposed spot-bitcoin ETFs, showcasing an almost real-time regulatory engagement.
Towards a fair and solvent market:
The updated filings include crucial wording changes aimed at protecting shareholders in the event of insolvency and ensuring no conflicts of interest between the ETF’s authorized participants.
This level of detail in the filings reflects a proactive approach to address potential regulatory concerns swiftly. With the SEC's deadline for the Ark and 21 Shares application looming on January 10, 2024, the anticipation is high. The market expects a sweeping approval of all applications in a move that would be seen as maintaining fairness across the board.
